SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K/A
[X] Annual report pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934 for the fiscal year ended December 31, 1996
COMMISSION FILE NUMBER: 0-24484
ACCUSTAFF INCORPORATED
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
Florida 59-3116655
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(State of other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
6440 Atlantic Blvd., Jacksonville, FL 32211
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(Address of principal executive offices) (Zip Code)
(Registrant's telephone number including area code): (904) 725-5574
Securities registered pursuant to Section 12(b) of the Act:
Common Stock, Par Value $0.01 Per Share New York Stock Exchange
(Title of each class) (Name of each exchange
on which registered)
Securities registered pursuant to Section 12(g) of the Act:
None
(Title of class)
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.
Yes X No
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The aggregate market value of the voting stock held by non-affiliates of the
Registrant (assuming for these purposes, but not conceding, that all executive
officers and directors are "affiliates" of the Registrant), based upon the
closing sale price of common stock on March 24, 1997, as reported by the New
York Stock Exchange, was approximately $1,583,531,060.
As of March 24, 1997, the number of shares outstanding of the Registrant's
common stock was 98,080,264.
DOCUMENTS INCORPORATED BY REFERENCE. List hereunder the following documents if
incorporated by reference and the part of the Form 10-K (e.g., Part I, Part II,
etc.) into which the document is incorporated: Portions of the Registrant's
Proxy Statement for its 1997 Annual Meeting of stockholders are incorporated by
reference in Part III.
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K ((S)229.405 of this chapter) is not contained herein, and will
not be contained, to the best of registrant's knowledge, in definitive proxy or
information statements incorporated by reference in Part III of this Form 10-K
or any amendment to this Form 10-K. [_]
ITEM 3. LEGAL AND ADMINISTRATIVE PROCEEDINGS
The Company, in the ordinary course of its business, is from time to
time threatened with or named as a defendant in various lawsuits, including
discrimination and harassment and other similar claims. The Company maintains
insurance in such amounts and with such coverages and deductibles as management
believes are reasonable and prudent. The principal risks that the Company
insures against are workers' compensation, personal injury, bodily injury,
property damage, professional malpractice, errors and omissions and fidelity
losses.
Accu Personnel, Inc., an unrelated company based in New Jersey ("Accu
Personnel"), has opposed AccuStaff's applications to register the marks
ACCUSTAFF, ACCUDRIVE and ACCUTECH pending before the United States Patent and
Trademark Office (the "Patent Office"). In addition, Accu Personnel sought
money damages and an injunction in an action brought in the United States
District Court for Delaware based on alleged common law trademark infringement
and unfair competition. The District Court has dismissed with prejudice Accu
Personnel's claim for damages and denied Accu Personnel's request for permanent
injunctive relief. Accu Personnel has dismissed, without prejudice, its
remaining claims in the District Court proceeding, leaving only the plaintiffs'
oppositions to the Company's pending Patent Office applications. In connection
with such dismissal, AccuStaff agreed not to use the ACCUSTAFF mark or any other
mark with the ACCU prefix in certain areas of southern New Jersey pending a
negotiated settlement or a final judgment of the Trademark Trial and Appeal
board or other court or tribunal. Based on advice the Company has received from
various sources, AccuStaff expects, but cannot be absolutely assured that it
will, obtain registration of the marks with the Patent Office, subject only to a
possible restriction on using the marks in southern New Jersey where Accu
Personnel claims to possess trademark rights. AccuStaff currently has no
offices in southern New Jersey.
There is no pending litigation which the Company believes is likely
to have a material adverse effect on the Company.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ACCUSTAFF INCORPORATED
By: /s/ Michael D. Abney
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Title: Senior Vice President
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and Chief Financial Officer
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Dated: April 10, 1997
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